¿Revaluación a la fuerza?
Director de Portafolio15.01.2026 17:54 Actualizado: 15.01.2026 17:59

TL;DR
- The rapid fall of the dollar to around $3,500 is alarming the productive sector.
- While cheaper imports and lower inflation are temporary benefits, the currency's appreciation is driven by transient factors, not structural strength.
- External debt emissions are flooding the narrow dollar market, causing the exchange rate to appreciate faster than companies can adapt.
- Uncertainty about a potential mandatory repatriation of pension funds invested abroad is increasing the expectation of greater foreign exchange supply.
- Guilds are reporting that the peso's appreciation is shrinking margins, discouraging new investments, and threatening formal jobs in labor-intensive sectors.
- Export profitability is declining, especially for non-mining-energy goods like coffee, flowers, and manufactures, due to the exchange rate effect.
- The article suggests restoring fiscal credibility, reducing debt dependence, controlling spending, and improving tax collection as urgent steps.
- It also calls for discarding forced repatriation of pension funds and implementing microeconomic measures to protect exporters, such as affordable hedging and accelerated tax refunds.
- Long-term competitiveness requires improvements in logistics, infrastructure, energy, and financing.